This Morning On The Stephanie Miller Show

Rep. Frank Pallone (D-NJ), Chairman of the House Energy and Commerce Subcommittee on Health, calls in at 6:30am to talk about Obama’s joint session of Congress tonight.

President Obama pledged yesterday to cut the nation’s $1.3 trillion deficit in half by the end of his first term. Meeting with congressional leadership of both parties, as well as a range of business, academic, financial, and labor leaders, Obama warned that the country cannot continue its current rate of deficit spending without facing dire economic consequences.

The Dow and S&P 500 tumbled to levels not seen in nearly 12 years yesterday, as investors continue to worry that the government’s efforts to slow the recession won’t be sufficient.

Barreling ahead on a mammoth agenda, President Obama is ready to offer a detailed sketch of the first year of his presidency, casting the nation’s bleeding economy as a tangle of tough, neglected problems. In a prime-time speech from the House of Representatives tonight, Obama will make his case that much more needs to be done to turn around the economy – a message he knows he must explain.

President Obama’s third choice for commerce secretary is likely to be former Washington Gov. Gary Locke, the country’s first Chinese-American governor. He would be Obama’s third choice after Bill Richardson and Judd Gregg withdrew.

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